Southern William Bradley 4

What Happened

• William Bradley Southern, CEO of Louisiana‑Pacific Corporation (LPX), received 41,852 shares on 2026-02-12 as the payout of 2023 performance stock units (PSUs). The grant is reported at $0.00 (award).
• To satisfy tax withholding on the award, 16,475 shares were delivered/withheld on 2026-02-12 at $93.89 for $1,546,838, and 2,361 shares were delivered/withheld on 2026-02-13 at $93.62 for $221,037. Total shares withheld = 18,836; total value withheld = $1,767,875.
• These disposals are tax-withholding/cashless settlement transactions (code F), not open-market sales.

Key Details

• Transaction dates and prices:
  • 2026-02-12: Award of 41,852 shares (code A) at $0.00.
  • 2026-02-12: 16,475 shares withheld at $93.89 ($1,546,838) for tax liability (code F).
  • 2026-02-13: 2,361 shares withheld at $93.62 ($221,037) for tax liability (code F).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote: Payout reflects 2023 PSUs paid at 88% of target and includes shares credited as dividend equivalents on those PSUs.
• Filing timing: Report filed 2026-02-17 for transactions on 2026-02-12–02-13; this is several days after the primary transaction date and may be later than the typical 2-business-day Form 4 deadline.

Context

• This was a PSU payout with shares issued to the CEO; the subsequent share deliveries were routine tax-withholding (cashless settlement) and should not be read as an open-market sale signal.
• Award (code A) means the company credited shares as compensation; withholding (code F) is a common method to satisfy tax obligations.